NEWS

Prime Minister Janez Janša: Constitution will provide for a balanced budget

The Prime Minister of the Republic of Slovenia, Janez Janša, today convened a meeting of the National Assembly's party leaders and national communities' deputies, where they discussed the golden fiscal rule amendment to Article 148 of the Constitution of the Republic of Slovenia.

 

After the meeting, the Prime Minister said that all the National Assembly's party representatives were willing to work together and vote in favour of incorporating the balanced budget rule into the Constitution of the Republic of Slovenia.  In his view, the amendment to Article 148 of the Constitution would stipulate only that which is necessary – "that budgets in Slovenia are either balanced or in surplus, which means no borrowing is allowed". 

 

The Prime Minster also explained that the implementation of the golden fiscal rule would be regulated by an implementing law – which will also be a constitutional law – and would therefore be passed by a two-thirds majority vote. In his words, the implementation law would regulate counter-cyclical fiscal policy, violations of the golden fiscal rule, and stipulate the time schedule for its implementation or the number of years needed for the rule to be implemented and the budgets balanced.

 

"We have also agreed to ratify the EU fiscal pact as soon as possible, in accordance with Slovenian procedures," added the Prime Minister.